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Sunday, January 10, 2010

Warren Buffett sells 2.7 mln Moody's shares

Billionaire investor Warren Buffett sold about 2.7 million shares of credit rating agency Moody's Corp earlier this week, according to a regulatory filing.

Berkshire Hathaway holds about 35.4 million, or about 15 percent, of Moody's shares following the transaction, assuming 236.5 million shares outstanding as of Sept. 30.

Berkshire, which holds these shares through some units, sold about 2 million shares at a weighted average price of $25.04 each and the rest at $24.8 each.

Moody's shares were trading up 1 percent at $25.25 in late morning trade Thursday on the New York Stock Exchange. They touched a high of $25.42 earlier in the session

Berkshire Hathaway now holds 15 pct in Moody's

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